TAMPA (FOX 13) - The Tampa campus of a ITT Technical Institute is closing down, along with every other branch across the country, leaving students and faculty in a major mess.
ITT Technical Institute and other for-profit schools have been under fire for using federal grants and loans to prey on people who should not be seeking a technical degree.
ITT was facing sanctions for its recruiting and accounting practices. It accepted federal funding and apparently couldn’t meet the terms of the loans. When the government said the school could no longer accept students using federal student loans, the school said it couldn’t afford to stay in business.
The future is now in question for 40,000 students and 8,000 employees. The Department of Education says if you’re a student at ITT and have a federal student loan, your loan could be forgiven. But you would have to start your education all over again.
If you want to keep going, you have to transfer your credits and hope the school you want to attend accepts them. Some Bay Area colleges offer comparable course, but credits don’t always carry over.
If students have graduated, but haven’t gotten a signed diploma, it’s possible they might not get one at all.
The U.S. Dept. of education has a team available to help answer questions at 1-800-4FEDAID.
It will also be holding webinars on a special website for ITT students to discuss options. You can find information there about filing to have your loan canceled or how to best transfer credits.
What Happens To Your Student Loans?
How Do You Transfer Credits?
U.S. Dept Of Education Message: